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The company disposed of a portfolio consisting of three Hyatt House hotels, located in California and Arizona. The 294-key Westin Philadelphia is part of the Liberty Place mixed-use complex that also features office, retail and residential.

The 146-key hotel is adjacent to the Fort Washington Office Park, benefiting from the proximity of nearly six million square feet of Class A office space. Crescent will manage all operations of the hotel, including guest experience and food services.

The 15-story, 223-key hotel will open in the first quarter of 2018. Built by Pearl Properties, the building was designed by DAS Architects Inc. and will be managed by Concord Hospitality Enterprises Co.

Arden Group of Philadelphia made its first purchases in the Dallas area this week – the 258-room LeMeridien Galleria hotel and the Atrium at Office Center, a 10-story, 243,109-square-foot office building in Las Colinas, Texas.